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ThomasVeil
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April 09, 2015, 04:48:45 PM |
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How is Nxt able to fit so much data in the blockchain?
Bitcoin struggles just to hold transactions, but messages and market listings is another story altogether.
There will be pruning at some point. That means that data will be removed from the blockchain after a certain period (i.e. one year). It's already being worked on - though I've read some disagreements between devs whether it will be possible on the NXT chain. Not an easy task, but necessary in the long run. Another point is of course the fee - if the fee is high enough, it will prevent extensive file storage. The fee in the current test-version was probably too low. Also: In future versions the fee will be dynamic - calculated by bytes added to the chain (for everything, also transactions and such). Just an idea (no clue if that's the plan), but I can imagine that the fee could determine also the duration of storage. Since a webshop possibly could be happy to store an image just for a week, while some important documents (like a testament) might have to be stored for decades. |
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ChuckOne
Sr. Member
 Offline
Activity: 364
Merit: 250
☕ NXT-4BTE-8Y4K-CDS2-6TB82
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April 09, 2015, 06:00:13 PM |
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Like it or not, NXT has a very strong community backing it up
If it were true, why would you be making this statement? Because it's true, and the obvious has to be stated sometimes for the more dense among us. NXT is an interesting experiment and I salute the experimenters. The question in my mind is: what incentive is there for stakers to secure the network? It seems the coinbase rewards are nil. So, it is a combination of altruism and simply the desire to keep the network alive to maintain the value of holdings. Is this enough? We will find out. Nxt represents a mature Bitcoin network where the mining reward equals total fees of a block's transactions. So, Nxt will offer a glimpse into the future of whether Bitcoin would be able to sustain itself or not. |
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box0211
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April 09, 2015, 11:01:40 PM |
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How is Nxt able to fit so much data in the blockchain?
Bitcoin struggles just to hold transactions, but messages and market listings is another story altogether.
There will be pruning at some point. That means that data will be removed from the blockchain after a certain period (i.e. one year). It's already being worked on - though I've read some disagreements between devs whether it will be possible on the NXT chain. Not an easy task, but necessary in the long run. Another point is of course the fee - if the fee is high enough, it will prevent extensive file storage. The fee in the current test-version was probably too low. Also: In future versions the fee will be dynamic - calculated by bytes added to the chain (for everything, also transactions and such). Just an idea (no clue if that's the plan), but I can imagine that the fee could determine also the duration of storage. Since a webshop possibly could be happy to store an image just for a week, while some important documents (like a testament) might have to be stored for decades. Seems like Captain Jean-Luc .. just implemented blockchain size pruning for upcoming 1.5.1e testnet: https://nxtforum.org/general-discussion/nice-1-5e-testing-i-just-decentralized-satoshi's-whitepaper-on-blockchain/msg173210/#msg173210 |
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Daedelus
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May 03, 2015, 01:07:16 PM |
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It's official lol   |
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box0214
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May 04, 2015, 01:26:08 AM |
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is erik voorhees that much of a market mover?
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Daedelus
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May 04, 2015, 07:32:42 AM |
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is erik voorhees that much of a market mover?
Who knows. But he is one of the few (only?) early BTC guys that will openly say positive things about alts |
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inBitweTrust
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May 04, 2015, 08:28:55 AM |
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is erik voorhees that much of a market mover?
Who knows. But he is one of the few (only?) early BTC guys that will openly say positive things about alts This is an odd statement considering most alt devs were early BTC guys.So you really have at least 500 early BTC guys who are more than just positive about alts and add to that all the early investors as well. In fact I find it more of a rarity that any early BTC guy is only interested in BTC. |
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Daedelus
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May 04, 2015, 08:52:10 AM |
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Ok. I'll let Garzik and bitcoindesk know Replace 'early' with 'high profile' perhaps, if it more pleasing. |
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inBitweTrust
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May 04, 2015, 09:00:45 AM |
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Ok. I'll let Garzik and bitcoindesk know Replace 'early' with 'high profile' perhaps, if it more pleasing. All the other alt developers aren't "high profile"? Every single one of them has their own cult following. Your attempts to play victim has created a delusional reality. |
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Daedelus
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May 04, 2015, 09:02:07 AM |
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Ok. I'll let Garzik and bitcoindesk know Replace 'early' with 'high profile' perhaps, if it more pleasing. All the other alt developers aren't "high profile"? Every single one of them has their own cult following. Your attempts to play victim has created a delusional reality. Thank you for your competent opinion. |
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Este Nuno
Legendary
Offline
Activity: 826
Merit: 1000
amarha
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May 04, 2015, 10:13:27 AM |
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is erik voorhees that much of a market mover?
If he wants to be, yeah. He was an early adopter of Bitcoin and was involved with some of the earliest Bitcoin businesses like Bitinstant. |
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inBitweTrust
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May 04, 2015, 10:32:35 AM |
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is erik voorhees that much of a market mover?
If he wants to be, yeah. He was an early adopter of Bitcoin and was involved with some of the earliest Bitcoin businesses like Bitinstant. He also has great interest in promoting alts as their development and interest allow him to gain more bitcoins with every transaction that flows through shapeshift.io. I believe he is geniune in his statement that he prefers NxT over other alts, but obviously he isn't that excited about NxT as he repeatedly fails to mention it and isn't up to date on all the news. You must understand his statement in this context. |
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box0214
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September 16, 2015, 04:36:27 AM |
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Conapult for nxt would be quite interesting.... Lock the value of nxt to btc or USD.
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ShroomsKit_Disgrace
Legendary
Offline
Activity: 952
Merit: 1000
Yeah! I hate ShroomsKit!
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November 04, 2015, 02:37:21 PM |
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Is he still alive?
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box0214
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November 04, 2015, 09:08:37 PM |
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i think he went to jail or something for not paying his taxes.
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ShroomsKit_Disgrace
Legendary
Offline
Activity: 952
Merit: 1000
Yeah! I hate ShroomsKit!
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December 10, 2015, 05:01:53 PM |
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Is he? such bad luck for NXT! Most promising coin ever going down for stupid unfortunate issues....
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nzminer
Legendary
Offline
Activity: 1918
Merit: 1001
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December 11, 2015, 04:28:18 AM |
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NXT WILL PREVAIL
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NEM, THE SECURE, SCALABLE BLOCKCHAIN [NEM.IO] [T.ME/NEMRED]
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hotsurfing
Member
Offline
Activity: 105
Merit: 10
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December 11, 2015, 07:59:15 AM |
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NXT WILL PREVAIL
Many would say it already has with everything it has achieved so far |
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